Professional Adviser is delighted to announce the launch of the new Working Lunches in partnership with Baillie Gifford and First State Investments. Travelling across the UK to provide valuable market insights for Senior Financial Advisers.

Despite the underperformance of fixed income we discuss in this Spotlight guide why the value proposition of the asset class hasn't gone away. In particular we review how the RLAM management team use existing, proven funds to actively manage consistent monthly income streams and adapt the portfolio to changing interest rate and credit market factors.

Within this guide, you will find some surprising survey results from FE, a selection of adviser opinions and some Architas views too. We hope this guide will provide you with some food for thought on this burning issue.

In conversation with advisers: plan for succession

Partner Insight: Cathi Harrison, director of para-sols and Apricity and Clare Farrell managing director at Northfield Wealth met in London to discuss how you would plan an 'exit strategy' for your business, if the situation arose.

In the final video of the series, they talk to Julian Marr, Editor of Professional Adviser about how to plan for succession.

Farrell believes that businesses have a number of options including ‘keeping it in the family.' But what is important in general is to have a ‘game plan' and processes in place just in case "you are offered a sale."

Harrison agrees with Farrell, she says: "I have had my business para-sols for 10 years, and right from ‘day one', people have been telling me to have an exit plan. I can't really focus on my business, when at the back of my mind, I am focusing on getting out.

"Having said that, however, because para-sols has become a self-reliant business, I have been able to set up my new business, Apricity. We have a really strong leadership team, they know what I want to achieve with the business. It has now become a ‘natural succession plan', as I focus on Apricity."

Harrison is not dismissing the idea of having an ‘exit strategy' for your business: "Some businesses out there have an exit strategy in mind, I think in financial services, there is also a lot of ‘passing it on to your family' and people work more closely together. So it is about putting yourself in a strong position and looking at the options."